Scotia Capital today announced a strategic alliance with NYFIX, Inc. to deliver an independent, broker-neutral, best-in-class Indications of Interest (IOI) service to the Canadian equities market.
Under this partnership, the next generation of Scotia’s IOI service, TradeChat, will be powered by NYFIX’s global IOI service, ioinet. NYFIX ioinet’s
Scotia Capital says the sophisticated analytics, filtering and buy-side order management system (OMS) integration capabilities of ioinet will greatly enhance TradeChat clients’ ability to quickly find and capitalize on both Canadian and global trading opportunities without costly information leakage and market impact.
More than 40 buy-side and 30 of the top sell-side firms in Canada use TradeChat service. The addition of these firms to the nearly 500 firms that are already members of the NYFIX ioinet community will further broaden the global reach of that service, and promote additional trading into the Canadian markets, Scotia Capital says.
“We are committed to providing our clients with the best IOI service possible and are excited about the benefits that working with NYFIX will bring to our TradeChat clients,” says Patrick Burke, managing director and head of institutional equities at Scotia Capital.
“NYFIX’s product capabilities, support services and commitment to evolving and expanding their global IOI business make them an ideal partner.”
IE
Scotia Capital forms strategic alliance with NYFIX
Partnership to deliver a Indications of Interest service to Canadian equities market
- By: IE Staff
- August 12, 2009 August 12, 2009
- 11:14